Word: fiscality
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Dates: during 1950-1959
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TREASURY BORROWERS will seek $1.7 billion in new cash to complete financing for first quarter of fiscal 1960. Money will be raised through sales of Treasury and tax-anticipation bills because of improved market conditions...
Last week, as the House considered the President's request for $3.9 billion for foreign aid in fiscal 1960, the rivals took to the floor, soon moved from statistics and specifics to their basic philosophies. Said Otto Passman, dazzlingly arrayed in a crisp white linen suit: "First, we cannot spend ourselves rich. Second, we cannot make ourselves secure by giving ourselves away. Third, we cannot buy friends. We were once told that foreign aid would stop Communism. Now we are told it is our duty to buy our way of life for countries all over the world...
...side with their bigger brothers. American Motors, which made money through 1958, is outdoing itself in 1959. From President George Romney came a beaming report of April-June earnings of $2.70 a share, more than double last year's performance. American's nine-month earnings for fiscal 1959 ($8.36 a share) are running three times ahead of last year, came within only a few thousand dollars of the $50 million profit forecast for the whole year. In South Bend, Studebaker-Packard President Harold E. Churchill gave his fast-selling Lark full credit for the company's earnings...
...Great Lakes, teamsters throughout the East and Middle West. The Government is also a victim: a prolonged strike in steel is expected to cause revenue losses of $45 million a week. Said Treasury Secretary Robert Anderson: "A long strike could reduce revenues which could not be recovered in fiscal 1960 and could therefore contribute to a budget deficit...
GRAND UNION Co. Sales went so well in the company's chain of 440 food stores that profits in the first fiscal quarter jumped...